Chartered Accountants of Ontario, Canada

 

Tax Facts

Automobile Amounts

 

  2005 2006 2007 2008 2009 2010 2011
Maximum capital cost (plus GST and PST) $30,000 $30,000 $30,000 $30,000 $30,000 $30,000 $30,000
Maximum lease payment (plus GST and PST) 800 800 800 800 800 800 800
Interest expense (per 30 day period) 300 300 300 300 300 300 300
Maximum deductible allowances              
First 5,000 km 45¢/km 50¢/km 50¢/km 52¢/km 52¢/km 52¢/km 52¢/km
Over 5,000 km 39¢/km 44¢/km 44¢/km 46¢/km 46¢/km 46¢/km 46¢/km
               
Operating benefit 20¢/km 22¢/km 22¢/km 24¢/km 24¢/km 24¢/km 24¢/km
Salespersons 22¢/km 19¢/km 19¢/km 21¢/km 21¢/km 21¢/km 21¢/km